Former NFL players say safety net jeopardized by investment scam
Date: 01-07-2006 10:38
ATLANTA — Steve Atwater says he told his four kids the family's recent trip to Cancun may be its last for a while. Blaine Bishop says he's tossed and turned at night, worried his retirement safety net may be in jeopardy.
The two former National Football League players insisted Friday that the league and its players union are to blame for the $20 million they and five other current and former players lost in an alleged investment scam.
"They are a huge billion-dollar company," Atwater, a former Pro Bowl safety for the Denver Broncos, said of the NFL at a news conference. "We hope that they would at least come to the table and talk to us."
Bishop said he's past being angry at the scheme authorities say hedge-fund manager Kirk Wright cooked up to steal the players' money. Now, Bishop said, he just wants his money back so he can take better care of his wife and 5-year-old son.
"It's not to the point of filing for bankruptcy, but it's a large sum of money," said Bishop, a former Pro Bowl safety for the Philadelphia Eagles who also played for the Tennessee Titans. "It didn't destroy us, but ... the NFL failed us."
The seven players have sued the league and its union to recover the money they lost to Wright's International Management Associates, claiming the union endorsed the services of the investment firm even though Wright and his partner had tax liens against them.
The suit filed June 23 in federal court in Atlanta says the league and the NFL Players Association are liable for the losses.
The players also say the union failed to certify that Wright was properly insured.
NFL spokesman Joe Browne said Friday that the lawsuit will have to take its normal course in the courts.
"We met with representatives of the players last week prior to the filing of the lawsuit. However, the litigation is now in the hands of the attorneys," Browne said. NFL spokesman Greg Aiello said Tuesday that the league regards the lawsuit as unfounded and without merit.
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